Even as the Reserve Bank of India ) on Friday delivered 25 basis points repo rate cut, banks are unlikely to cut term deposit and marginal cost of funds-based lending rate (MCLR) aggressively, senior bankers say. Tough competition for deposits and need to protect their net interest margins (NIM) are the key reasons for banks to maintain the interest rate at current levels, they say.Says CS Setty, Chairman, State Bank of India, “It is a shallow rate cut of 25 bps, I don’t think banks will cut deposit rate ag ...